Reddit is currently aflame with the news that everyone's favorite Bitcoin Exchange: Mt. Gox, has disabled trading. Couple that atrocious situation with a blank twitter feed and it is no wonder that peoples' imaginations will run wild. One of the only things we know for…
Reddit is currently aflame with the news that everyone’s favorite Bitcoin Exchange: Mt. Gox, has disabled trading. Couple that atrocious situation with a blank twitter feed and it is no wonder that peoples’ imaginations will run wild.
One of the only things we know for certain is that Mark Karpeles has resigned from the Bitcoin Foundation amid large public uproar. The other thing we know is that trading is disabled and market volatility until this thing gets sorted out is also a given.
UPDATES: Coinbase posted a blogpost detailing a Joint Statement Regarding Mt. Gox with Circle, Kraken, BitStamp, Blockchain.info, and BTC China. The blogpost was previously titled Joint Statement Regarding the Insolvency of Mt. Gox, but they quickly (within 20 minutes) changed the title in light of the current unconfirmed crisis.
Mt. Gox’s website is currently EMPTY.
The Unconfirmed Crisis
The alleged leaked document is this Mt. Gox Situation: Crisis Strategy Draft, which has coverup on the last page. This document was allegedly leaked to the Two Bit Idiot by a trusted source. The Two Bit Idiot has claimed that he believes the files to be authentic, specifically citing that the numbers in the last page of the document match up with Mt. Gox numbers and that he is currently waiting on Mt. Gox to confirm. The document claims a lot of things, chief among them that Mt. Gox will close their doors for a month and attempt to reestablish themselves as Gox.com.
Here is a nonredacted version of page 8 of the document, which you should definitely take a look at.
Make of the leaked document what you will, there as of yet hasn’t been any official word out of Mt. Gox regarding the disabling of trading. Nary a chirp about the lack of tweets; but who is surprised?
If you want to see an echo chamber in action, check out this reddit post vehemently denouncing the whole thing as FUD.
The first sign that something unusual was amiss was when Mt. Gox’s twitter feed mysteriously disappeared last night.
If this is a FUD campaign, clearly someone had insider information about Mt. Gox halting trading. This is no different than predicting a solar eclipse to establish dominance over a newly discovered tribe with no affinity for astronomy. Given the large market movements that always seem to precede Mt. Gox announcements, there is certainly credence to that part of the theory.
The claim that Mtgox.com is moving to Gox.com seems to be corroborated by this domain change log that shows Gox.com changing ownership earlier today. All that link proves is that someone, it could have easily not been Mark Karpeles, is now the registered owner of Gox.com. The cost of a three letter .com domain name is not cheap and if this is FUD, it is clearly (as mentioned by many) a pretty successful campaign.
CCN will keep you abreast of new updates in the Crypto world, always. Stay tuned!
Last modified: January 25, 2020 9:59 PM UTC